Bookie that allows the smallest bets?

[thorns]

Are there any bookies around that accpet tiny bets?
ie under $1? Am just keen for a bit of a play on a target betting system I have been working on, but am keen on trying it out with tiny stakes first to see how it goes. Betting on paper it is all coming up roses, but would like to have a play with "live ammunition" before betting anything half decent on it. Have looked at a few such as IAS and the TAB's, but they all seem to have $1 or $2 minimum bets.

Cheers

[YoungBuck]

If you're talking that tiny, you may as well 'paper' trial it and not bet at all.

[Silver_and_sand]

G'day Thorns,

Open up an account with Betfair. I believe they have a policy of $6 minimum bets, but this is overridden when you use an add-on software called BetTrader, and lets you place bets as small as $0.01.

I was quite skeptical of Betfair in the past, but I finely gave in to the curiousity a month ago, and opened an account with them, just to see what it's all about. I admit it took me a few days to get my head around being able to lay horses, but I tell you it has really opened up a whole bunch of new doors for me. Plus, I'd say 90% of the time, you get better odds than those available elsewhere (just make sure you allow for the 5% commission on profits).

I starting off with a bank of $300, just to play with until a got a better understanding of how it all works. Within 2 weeks, I had turned that $300 into $1,000. Flush with confidence, I then decided to deposit another $700, so that my overall contribution to my betfair account would be $1,000. And now, 2 weeks later I've built the bank up to nearly $5,000. Yesterday alone, I made over $600. I've made most of the money through trading and laying, but still use BetFair to back my normal Saturday system selections too.

It's a great feeling knowing you don't have to bet with some of the other corporate bookie websites out there, and that you get better prices too. I know all this sounds a bit like one of those fake testimonial, but I think BetFair is exactly what Australia needed. Viva revolution!

SnS

[partypooper]

Silver_and_sand, I am also intrigued but that 1 &1/2% charge on deposits kills me off. like I'd be happy to make 1 &1/2%??????? on turnover that is!

[Silver_and_sand]

I'm pretty sure that 1.5% charge is only for deposits by credit card . Every other method of deposit is free. Link (http://payments.betfair.com.au/index.asp)

I used Bpay and it was free. From memory, my funds were in my BetFair account 2 business days after I made the Bpay payment online.

I'd definitely recommend giving BetFair a go, though having said that, I'd also then recommend using BetTrader to access and utilise BetFair for it's efficiency, speed and lack of minimum bet. You could snag yourself some pretty ripe prices
on your PPM's...lol.

You'll never look back. Good luck.

SnS

[jfc]

I know all this sounds a bit like one of those fake testimonial, but I think BetFair is exactly what Australia needed. Viva revolution!



Bets below the minimum bet size of $6 are contrary to the terms and conditions. Earlier I posted an example of how Betfair can arbitrarily permanently close your account and seize your profits.

Last time I checked it costs money to use Bettrader. If you're worried about the cost of small bets, spending extra money on tools is a curious economical strategy.

Betfair's latest initiative of penalising virtually all efficient long-term winners is so staggering, that it has even managed to break out in the media, which Betfair (along with Tabcorp and many other publicity-sensitive outfits) has invested vast sums to influence.

[Michal]

Betfair's latest initiative of penalising virtually all efficient long-term winners is so staggering, that it has even managed to break out in the media, which Betfair (along with Tabcorp and many other publicity-sensitive outfits) has invested vast sums to influence.

Could you please elaborate about this, what changes have occured?

Michal

[jfc]

Could you please elaborate about this, what changes have occured?

Michal

It is all over the Internet.

As a google news for "betfair charges" will confirm.

In essence it is a deliberately convoluted initiative which retrospectively slugs long term winners whatever necessary to garnish 20% (22.5% according to others) of winnings.

I'm amazed no one here has started a new thread about this, so suggest someone does. Unless everyone here is unaffected because they have given up all hope of ever becoming a winner.

[crash]

Thorns,

You can bet on the TAB [s-tab anyway] for as low as 50c. as long as they are on-line bets so you would need an account. Alternately those auto-bet machines at pub tabs. etc. also allow 50c bets or can be used to deposit cash to your account.

I have often used my TAB account and 50c bets to do real-time trials with systems. Not the best odds but credit facilities are not required as deposits [and withdrawals] to an account can be made at any pub tab. Serious betting can always be shifted to Betfair or IAS etc. at a later time.

[Chrome Prince]

I'm amazed no one here has started a new thread about this, so suggest someone does. Unless everyone here is unaffected because they have given up all hope of ever becoming a winner.

It's hardly worth a thread. less than .5% of customers will be affected.
Basically it is designed to get people who previously did not pay their fair share of commission to pay it (traders, arbers etc). They also must be winners.

Anyone who is currently paying their fair share of commission is unaffected.

Anyone who is affected is going elsewhere.

[Mark]

Or operating several accounts.

[thorns]

Well back to the original topic, I have found that centreracing allow bets of 1 cent lol. Even less than I was wanting. But looks like they'll do the trick.

[Chrome Prince]

Or operating several accounts.

YES :D

[jfc]

It's hardly worth a thread. less than .5% of customers will be affected.
Basically it is designed to get people who previously did not pay their fair share of commission to pay it (traders, arbers etc). They also must be winners.

Anyone who is currently paying their fair share of commission is unaffected.

Anyone who is affected is going elsewhere.Completely wrong.

Actually the evidence suggests this could be the biggest topical story since the launch of exchange betting.

(An unsubstantiated allegation of misinformation by Betfair has been deleted here. Due to potential legal issues of defamation please be careful about what you post. Moderator 3.)

Your claimed modus operandi indicates you would be considered a trader. As should every intelligent person using Betfair.

If those threatening to go elsewhere had done so in the past, Betfair's monopoly would be broken, and we would not have this debacle inflicted on us.

[Chrome Prince]

Completely wrong.

Actually the evidence suggests this could be the biggest topical story since the launch of exchange betting.

Your claimed modus operandi indicates you would be considered a trader. As should every intelligent person using Betfair.

If those threatening to go elsewhere had done so in the past, Betfair's monopoly would be broken, and we would not have this debacle inflicted on us.

I didn't say it wasn't topical jfc, but for example the number of posts over at BF itself suggests extreme overkill over the whole situation.
If those threatening to go elsewhere had done so now, Betfair's monopoly would be broken, and of course it won't be for any long period.

"and we would not have this debacle inflicted on us."

So it's their fault???

It's simple really, whether it's right, is another argument.

They will give punters a better opportunity to win, providing they pay the same as a losing punter, if they pay less, they can expect to pay more for the privilege of winning.
Whatever the situation, it should be Betscared because 90% of deserters, would have been unaffected despite their claims that they would.

[Bhagwan]

I dont know why Betfair does not charge the big bettors the same as everyone else the 5% , that way it makes it a level playing field.

It sounds like the big bettors begrudge paying any commission.

Maybe it was a mistake offering discount commissions in the first place.

Can someone say what the percentage Betfair is seeking from this minority group?

[Bhagwan]

The question of Bet Trader charging for their software.

The program is free to use for Dutching & say 10 cent win & lay betting.

The charge only applies if one wishes to use their Trading ladders.

Bet Trader can be found by Googling, Racing Traders.

One will not wish to accept the TABs terrible prices any more once one has experienced the difference.

If you find yourself mainly breaking even using the TAB.
The same selections on Betfair will yield a profit.

Tip for those new to Betfair , always try for one or two ticks higher than the offered price, you will see how often these get matched.

Cheers.

[Michal]

Hi,


From my understanding, the loosing bets commision as well as the actuall commision payed is added together.

Also it is gross profit they are talking about, so if you win 110,000 and you turned over (lost) 100,000 then your gross profit is 10,000.

Chances are that the general betting person has payed well in excess of the 20% by the time they grind the 10% POT that is ilustrated there.

Those that will be effected are those that have limited bets exceding 250 per year but have a high strike rate ...... I think that those are unfairly tagreted and perhaps arent supposed to be. In this situation the edge of Betfair over even best TOTE is definitely given away through the extra payment of percent.

The explanation on Betfair is rather hard to understand, I cant find any other posts that explain it better and I think that it has been badly handeled.

If you have any links that explain or answer questions from concearned punters please post them here thanks.

Michal

[AngryPixie]

By my rough calculations any body laying exclusively with a strike rate in excess of 80% (maybe even less) would qualify under the selection criteria, so long as the $ profit and number of markets criteria also matched.

This won't just touch the big boys!

[Shaun]

The main reason for the charges is the in-play betters and traders that win on 90% or more of there trades, these guys are paying far less commission than the normal punter.

I agree a 5% commission fer everyone would be a better idea and reduce the transaction charges there is no need to have it set at 1000 an hour bring it down to 100 and this would catch all the bots that trade automaticly

[AngryPixie]

The main reason for the charges is the in-play betters and traders that win on 90% or more of there trades, these guys are paying far less commission than the normal punter.Shaun not picking a fight here but your saying that as if these guys are cheating or something. They're just working within the limits of the current system. The Betfair marketing rhetoric is equally "tall poppy" i.e. "paying their fair share"


I agree a 5% commission fer everyone would be a better idea and reduce the transaction charges there is no need to have it set at 1000 an hour bring it down to 100 and this would catch all the bots that trade automaticlyNot sure where the 1000 an hour comes in http://www.propun.com.au/racing_forums/images/smilies/confused.gif

[Shaun]

I didn't say there was anything wrong with it and if i was inclined i would run it myself, as for the second question not sure what you mean.

Is it you don't know about the transaction charges or what i refer to them doing.

[Truckie]

Quite some time ago, I had an odd 2 cent in my account, but got rid of it by betting on a loser.Another advantage is that it paid $17.90 on a horse today that paid $14.40 on Unitab